Robotics M&A Report:
Software is gaining significant weight

Q2 2025 – M&A trends, valuation multiples and transactions in the Robotics sector

Personal Note: Robotics, AGVs & intralogistics: Strategic turning point in M&A

The robotics and automation market is developing rapidly – not only technologically, but also strategically. The planned spin-off of ABB’s robotics division by 2026 is a signal of the sector’s independence and investment maturity. Collaborative robots (COBOTs), autonomous transport systems (AMRs/AGVs) and intralogistics solutions in particular are the focus of numerous strategic buyers and private equity investors.

Arno Pätzold

Managing Partner ARTHOS
Expert in Sensors, Automation, Semiconductor & Photonics

arno.paetzold@arthos.de

Consolidating players in the robotics market show up, increasingly on the software/ AI side

The transaction situation in 2024/25 underlines the consolidation pressure and the attractiveness of the segment: Agile Robots (Germany) continues to consolidate with a focus on AI-supported cobots, while Symbotic (US) strengthens its position in AI-based fulfillment solutions with the acquisition of the Walmart Robotics division. Zetes Industries is investing in mobile material handling systems (Robotize), while sevensense is bringing AI and image processing to adaptive robotics in the ABB division – all transactions are clearly aimed at highly specialized technology and software-centric applications. Warehouse-related acquisitions (e.g. Invar, Matter, Automha) also show that intralogistics is becoming the central interface between robotics, software and efficiency.

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Grafik über: Konsolidierende Akteure auf dem Robotikmarkt treten zunehmend auf der Software-/KI-Seite auf

Capital IQ & PitchBook (as of 3 June, 2025)

Robotic sub-sector analysis: Increasing M&A activities software- / AI-focus

ARTHOS sees a clear valuation plateau effect in 2025: after a phase of above-average multiple development (>14x EV/EBITDA for robotics, intralogistics, machine vision), valuations are stable again at around 12x. Nevertheless, buyer behavior remains active, the strategic need for technology access is high and many buyers still have liquidity or fund capital.
Providers with scalable technology, a strong customer base and a clearly positioned solution portfolio (especially fulfilling combinations of hardware/ software) in (human-)robotics (collaboration) or internal material logistics are particularly in demand. The growing software component – e.g. AI-supported navigation, adaptive process control – is also gaining significant weight among investors.